The Psychology of Hope: What Effect Will the Election Have On The Minneapolis Duplex Market?

 

I think it’s fair to say that as a nation, we are collectively in a bit of a bad mood.
Every day, the media tells us how bad things are. Wall Street is down. Wall Street is up. The $700 billion government bailout bill will solve the banking crisis. The buyout wasn’t enough. Foreclosures are on the rise. Interest rates too. And we still haven’t dragged Bin Laden out of his cave.
 
We’ve begun to believe things are bad and getting worse. We’ve pulled in the tentacles of our lives. We’ve stopped buying houses and cars, stopped buying things we didn’t need. We’ve heard and talked more about the Great Depression than we have since reading The Grapes of Wrath in high school.
 
No wonder this country seems to need an industrial strength anti-depressant. Thankfully, one is on the way.
 
With the election finally days, not weeks away, next Wednesday we can start thinking about a new beginning. No matter the outcome, someone new will be in charge come January. We’ll have a chance to start over.
 
And with that new beginning will come hope.
 
Hope drives markets. If we believe the housing market is bad, it is. If we’re optimistic and convinced things will improve, they generally do.
I’m looking forward to it.